earnings/outgoings breakdown!

Irishorangutan

Thank you Clapton. It's early days, but i'm just really looking to address this and work out the best way to get rid of this quickly.

The hardest thing is that there are sometimes business costs. For example, very soon we will need to purchase a trailer (cost around 1500?) which will be a big one. So while ideally, per month, I can afford 1000 repayments on debts - it isn't always like that. It's the nature of being self employed unfortunately.

Thank you for being positive - it has taken a lot to get to this point, i just don't want to stop here!

overbudget

Irishorangutan wrote:

Our shopping account is pretty low I think for a couple with two pet kittens.

You could definitely get this lower with meal planning and suggestions from the OS board. I was spending about £200 for a couple and 3 large dogs (2 very large!). Have managed to reduce that to £160 and am hoping to shave a little more off. We still eat well - just avoid pre-processed food and waste a lot less than we used to.

Two people and two kittens - take a month and try for £160 a month - it is easier than you might think!

Irishorangutan

thank you - we will aim for a slightly lower shopping budget of around 40 per week.

lil'H

Just a few queries for you!

Irishorangutan wrote:

Hi All,


Outgoings

Personal Payments

Rent – 400
Council tax – 80
TV License – 10.99
Loan Repayment – 50.00
Barclaycard – 100.00
Electric – 56.00
Sky Digital 21.25 (for next 3 months)
Water? Not mentioned
Car insurance?
Petrol?
Contents insurance?
Gas, or are you just on electric?
All the above may not apply but if you have missed any off this could be where your sums aren't adding up!

Total: 718.24

ESTIMATES
Food/Essential shopping – 200.00 per month definately could be less
Mobile phone 25 on PAYG
Fiance Mobile phone 10 on PAYG
Football/Tennis 35 per month
Eating out 25 per month could this be every six weeks instead?
Car Tax – 14 per month average
Car parking permit – 3 per month av
MOT/Service – 25 per month av

Total: 337.00



Thank you very much in advance.

Irishorangutan

Hi!

We're in Scotland so don't pay for Water.

I put in a later post to add 150 for Petrol - totally forgot.

Luckily the landlord has contents insurance included.

Car insurance - I paid for the full year back in April, but I would expect it will be around 300 next April for the year.

we're only on electric, no gas.

Food bill - yeah we're aiming to take it down by about 40 quid a month.

Eating out - yes we will aim to make it perhaps 15 - 20 a month. Not easy though as Aberdeen is very very expensive for eating out, so even with the bogof deals we get, it's expensive.

lil'H wrote:

Just a few queries for you!

melt71

Luckily the landlord has contents insurance included.

Hi Irishorangutan

It seems to me that you are now doing ok and I think that once you start to have your eye on the ball as to what and how you are spending, you should be able to naturally cut back and throw the extra money at your debts.

However, I thought I would mention about the contents insurance, if you haven't already I would ask to check the policy as it is very unlikely that your items will be covered (the reason being you can't insure something that isn't yours). THerefore, he may have a very basic policy just to cover any furniture or appliances in the flat. Also, if he hasn't mentioned that it is rented to someone else, it may void the policy anyway!! Insurance policies are a nightmare of small print.

It's definitely worth checking that you are covered and are not uninsured/under insured which is just as bad.

Good luck paying off your debt.

Mel

Irishorangutan

cheers i'll check. I will add that the landlord or lady, is my mum - as she bought a flat which we moved into recently. But I will clarify with her.

Thanks though!

lil'H

Move me to Scotland, no paying for water! I want some of that!

Looks like your pretty well covered then, whilst there are things you can save on (food etc) you seem to have enough spare to make pretty decent repayments, I'd start with that and the more your on here the more you'll find yourself getting obsessed and spending less and less!

Good luck with it all
lil'H

Ali-OK

Hi there

Since you're already in a contract with Tiscali for your 2Mb broadband, you could upgrade your package to include all calls for £19.99 (if it's still an offer they are doing). It does exclude mobile and 0870 numbers though.

If you move your BT line rental to the £11 p/m basic option, that brings your total cost to £30 a month, as opposed to the £53 you're currently paying.

Irishorangutan

brilliant, thanks. I might try the Tiscali thing for a bit - seems decent! Do they tie you in to another 12 months though if you upgrade?